Posted on: 29-12-05 00:07:00
I first landed on 15-04-05. Completed all the formalities, opened account in HSBC bank, got their secured credit card (CAD 1000) and came back to Malaysia to finish my contract. Now I will return permanently on Jan’06.
While landing for the first time they asked me how much money I have with me. It was CAD20000 and they noted it down. Now after finishing my contract here, I will be having around CAD40000 which I want to bring to Canada. My question is do I have to pay tax for this money. I have paid taxes for all income here. Will there be any problem if I transfer the money to my account in Canada via Telegraphic transfer?
I also have some investment Bonds back in my country. It will be matured in 2009.
Is it better to declare these income sources while landing for the second time for not being taxed?
I am using Canadian credit card in Malaysia and paying the bills from my account in Canada. Am I building my credit history?
If I buy a computer and pay in 48 installments, does it help making credit history?
Thank you in advance.
as far as I know any moneys earned and payed tax on abroad dont have to be taxed on in Canada. so bring it on
Quote:
Orginally posted by Janmeja
as far as I know any moneys earned and payed tax on abroad dont have to be taxed on in Canada. so bring it on
Don't mind my saying so, but this is the silliest advice I have seen on this forum! And you seem to be grossly misinformed!
Chandresh
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Chandresh
Advice is free – lessons I charge for!!
Chandresh is right about misinformation.
Check the links below, they will be of use.
http://www.cra-arc.gc.ca/tax/nonresidents/individuals/newcomer-e.html#b
http://www.cra-arc.gc.ca/E/pub/tg/5000-g/5000-g-03-04e.html#P143_15053
Quote:
Orginally posted by chandresh
Quote:
Orginally posted by Janmeja
as far as I know any moneys earned and payed tax on abroad dont have to be taxed on in Canada. so bring it on
Don't mind my saying so, but this is the silliest advice I have seen on this forum! And you seem to be grossly misinformed!
Chandresh
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
we brought in money from the US whish we declared and later some more fro m India. we did not have to pay taxes . so my advice is from personal experience.
Hi,
Thanks for your response.
The point which I think you are missing is about the "Maintaining Residency for Tax Purpose".
This Gentleman has been maintaining accounts in Canada and active Canadian Credit Cards plus other things.
To me he qualifies as a Resident for Tax Purpose.
Always on tax matters, it is best to Consult with a renown Tax Consultants.
Paying'em 20-25$ will save lots of chaos in future.
- JRF.
Quote:
Orginally posted by Janmeja
we brought in money from the US whish we declared and later some more fro m India. we did not have to pay taxes . so my advice is from personal experience.
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
This id not the first time that 'janmeja' has responded without thinking of the background of the post. Check the links below. But what surprises me is why the moderators are silent about this. On any other forum she/he would have been warned once or twice and then the ID would be banned. That would surely refrain people from making / posting such 'stupid' posts.
http://www.canadiandesi.ca/read.php?TID=10737
http://www.canadiandesi.ca/read.php?TID=10568&page=1#61313
Quote:
Orginally posted by Janmeja
as far as I know any moneys earned and payed tax on abroad dont have to be taxed on in Canada. so bring it on
